MedGenesis Enters Into Agreement with Pfizer Inc. for Potential Treatments for Parkinson's Disease

VICTORIA, BRITISH COLUMBIA--(Marketwired - Sept. 16, 2014) - MedGenesis Therapeutix Inc. ("MedGenesis"), a privately held biotechnology company focused on the development and precision delivery of definitive treatments for neurologic diseases, announced today that it has entered into an agreement with Pfizer Inc. ("Pfizer"), granting Pfizer an exclusive, worldwide option to license its glial cell line-derived neurotrophic factor (GDNF) protein and convection enhanced delivery (CED) technology to be used in research for potential treatments for Parkinson's disease.

Dr. Erich Mohr, Chief Executive Officer and Chairman of MedGenesis commented, "We believe that delivering drugs, including proteins, precisely to the regions of the brain where they are required will allow the potential for better treatments for a whole range of central nervous system (CNS) disease, and opens up the opportunity for the potential development of truly disease-modifying treatments of neurological diseases. We are delighted to be collaborating with Pfizer to complete our GDNF program, and we hope that this collaboration will result in potential treatments for people living with Parkinson's that could radically alter the course of their disease."

MedGenesis is currently running a proof of concept study in Parkinson's disease with its aforementioned GDNF and CED technology. Under the terms of the agreement MedGenesis will receive an upfront option fee and upon exercise of the option by Pfizer will be eligible for further milestone and royalty payments.

"Pfizer is committed to improving the lives of people living with neurological diseases, including Parkinson's disease," said Michael Ehlers, Senior Vice President, Neuroscience Research Unit, Pfizer. "With limited treatment options currently available, Parkinson's disease is a devastating illness for patients and families. We believe that this collaboration with MedGenesis has the potential to provide the first disease-modifying treatment that slows the progressive decline in patients, consistent with our commitment to making a difference in areas of high unmet medical need."

About MedGenesis Therapeutix Inc.

MedGenesis is a privately-held biopharmaceutical company committed to developing and commercializing innovative therapeutics to provide life-enhancing treatments to patients with serious neurologic diseases. MedGenesis is a worldwide leader in convection-enhanced delivery (CED), a minimally invasive technique that provides for targeted, local treatment of serious conditions such as Parkinson's, epilepsy, brain cancer and other severely debilitating diseases of the central nervous system. MedGenesis' GDNF program has been supported by a grant from the Michael J Fox Foundation for Parkinson's Research, and benefitted from a direct grant from Parkinson's UK to an investigator-sponsored clinical trial being conducted by the North Bristol Trust.